Merchant cash advances, also known as business cash advances, are an extremely useful alternative to conventional small business loans that do not cause so much trouble. Although it seems a bit odd and complex, the merchant cash advance is very simple and very easy to achieve for the needy.
If your business accepts payments from credit cards from consumers and enjoys a specific amount of income each month on a regular basis, chances are that your business will qualify for such cash advance. To get more information about merchant cash advance visit https://www.onestopfundingshop.com/merchant-cash-advance-2/ .
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The loan is based on future sales projected credit cards, which means that your income is the collateral against the small business loan.
The requirements for merchant business cash options is extremely simple and very easy to qualify. The company needs to have been processing credit card payments for at least two months in most cases.
Naturally, commercial finance companies will want to require a minimum deposit amount of monthly credit card, usually is not a lot but directly linked to the amount you intend to borrow.
Guarantee is not required in the case of a merchant cash advance. When you apply for an advance loan business, you never have to provide any hard guarantee in order to get your loan.
With regard to the financial statements, most merchant providers require funds only a few months to make sure you are doing a certain amount of credit card sales.